Riordan Coso
Running head: RIORDAN CORPORATE COMPLIANCE PLAN
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Riordan Corporate Compliance Plan Napoleon Melton, Jr. LAW/531 January 17, 2011 Terry Turner
RIORDAN CORPORATE COMPLIANCE PLAN
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Riordan Corporate Compliance Plan Riordan Manufacturing is wholly owned by Riordan Industries, a Fortune 1000 enterprise based in San Jose, CA. Riordan produces plastic beverage containers at its Albany, GA plant, custom plastic parts at its Pontiac, MI plant, and plastic fan parts at its Hangzhou, China facility. Major customers include automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers & bottlers, and appliance manufacturers. The company is noted for its Six Sigma business management strategy, research & development, and ISO 9000 quality management standards. The Board of Directors is responsible for executing the overall management of Riordan business affairs in accordance with state corporation requirements, the Articles of Incorporation, and its By-Laws. A nominating committee, who is responsible for overseeing the skills & characteristics of the Board members, recommending new Board members, and supervising the Board, is maintained by the Board of Directors. The Board of Directors also maintains the executive and auditing committees under their corporate governance plan (University of Phoenix, 2006). Having a corporate governance plan provides guidance in terms of business affairs management. However, it is imperative for Riordan Manufacturing to implement a corporate compliance plan to ensure the future viability of the company. The Riordan corporate compliance plan will serve as a guide on how the company will handle current and future issues. The company will illustrate how the corporate compliance plan will work through our current issues: governance, logistical, technological, and operational. Governance Riordan Manufacturing needs to add vital pieces of information to its corporate governance plan: board meeting
1
Riordan Corporate Compliance Plan Napoleon Melton, Jr. LAW/531 January 17, 2011 Terry Turner
RIORDAN CORPORATE COMPLIANCE PLAN
2
Riordan Corporate Compliance Plan Riordan Manufacturing is wholly owned by Riordan Industries, a Fortune 1000 enterprise based in San Jose, CA. Riordan produces plastic beverage containers at its Albany, GA plant, custom plastic parts at its Pontiac, MI plant, and plastic fan parts at its Hangzhou, China facility. Major customers include automotive parts manufacturers, aircraft manufacturers, the Department of Defense, beverage makers & bottlers, and appliance manufacturers. The company is noted for its Six Sigma business management strategy, research & development, and ISO 9000 quality management standards. The Board of Directors is responsible for executing the overall management of Riordan business affairs in accordance with state corporation requirements, the Articles of Incorporation, and its By-Laws. A nominating committee, who is responsible for overseeing the skills & characteristics of the Board members, recommending new Board members, and supervising the Board, is maintained by the Board of Directors. The Board of Directors also maintains the executive and auditing committees under their corporate governance plan (University of Phoenix, 2006). Having a corporate governance plan provides guidance in terms of business affairs management. However, it is imperative for Riordan Manufacturing to implement a corporate compliance plan to ensure the future viability of the company. The Riordan corporate compliance plan will serve as a guide on how the company will handle current and future issues. The company will illustrate how the corporate compliance plan will work through our current issues: governance, logistical, technological, and operational. Governance Riordan Manufacturing needs to add vital pieces of information to its corporate governance plan: board meeting
References: Cheeseman, H. (2010). Business law: legal environment, online commerce, business ethics, and international issues (7th ed.). Upper Saddle River, NJ: Prentice Hall. Committee of Sponsoring Organizations of the Treadway Commission. (2010). Coso. Retrieved from http://www.coso.org/default.htm Fabrikant, G. (2003, June 15). Private concern, public consequences. New York Times. Retrieved from http://www.nytimes.com/2003/06/15/business/yourmoney/15COGA.html?ex=105677 5009&ei=1&en=91d1f5f74709fe56 University of Phoenix (2006). Virtual organization: riordan manufacturing. Retrieved from University of Phoenix, LAW531 – Business Law website.